Sec. 129.
138 words·~1 min read·
/bill/116/hr/21/eh/section-129A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 180 days after the date of enactment of this Act, the Financial Crimes Enforcement Network and the appropriate divisions of the Department of the Treasury shall submit to Congress a report on any Geographic Targeting Orders issued since 2016, including— the type of data collected; how the Financial Crimes Enforcement Network uses the data; whether the Financial Crimes Enforcement Network needs more authority to combat money laundering through high-end real estate; how a record of beneficial ownership would improve and assist law enforcement efforts to investigate and prosecute criminal activity and prevent the use of shell companies to facilitate money laundering, tax evasion, terrorism financing, election fraud, and other illegal activity; and the feasibility of implementing Geographic Targeting Orders on a permanent basis on all real estate transactions in the United States greater than $300,000.